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09-Nov2016

Muthoot Finance raises stake in BIFPL

Muthoot Finance has further acquired 24 lakh equity shares of Rs 10 each of Belstar Investment and Finance (BIFPL) at a total price of Rs 8.4 crore. With this investment, the company has completed the acquisition of 57.16% stake of BIFPL. Accordingly, BIFPL has become at subsidiary of Muthoot Finance.

Muthoot Finance is the largest gold financing company in India in terms of loan portfolio. The company is a Systemically Important Non-deposit taking NBFC headquartered in the southern Indian state of Kerala and with its corporate office in New Delhi.


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